French banking giant ODDO BHF enters crypto space with launch of Euro-backed stablecoin EUROD

ODDO BHF, a 175-year-old French banking giant with over €150 billion (US$173 billion) in assets under management, is entering the cryptocurrency space with the launch of a euro-backed stablecoin called EUROD. The token will be listed on the Madrid-based cryptocurrency platform Bit2Me. EUROD is designed to be a compliant, low-volatility digital version of the euro. The companies say the token complies with the EU's new Markets in Crypto-Assets (MiCA) regulation and is targeted at both retail and institutional users.